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One logic answer is Odidi is behind the short core position, which is his insurance.
The daybyday short is done by the market maker under the mandate of those who decided one year to take control of the company.
Odidi doesn't care because his position long is covered by the short.
The problem is the genius didn't think about loosing control of the company and now it is too late and he is just buying some time...
Another logic answer is Odidi knows that there is nothing left in the pipeline...he knows the approvals will never come because the technology is not working
Bloomberg reports 43.5Mln shares outstanding...for a whoppy 15.2Mln mkt cap.
a total joke...
"Management in fact shows disdain for shareholders by keeping shareholders in the dark. "
Odidi ..shame on you.
I cannot consider Odidi being a good person, since he has been acting over the last 12 months arrogantly, greedly and unrespectful towards that same community who allowed him to be run a public co.
I was hoping in his final change, to make a u turn on his negotiations and try to save and preserve the company value. If it wasn't for all the nice persons I have come to know over this board I would hope for him going bankrupt.
he deserves nothing, he just took away from us money, time, passion and studies....he is just like a thief.
My bad I put faith on him, I believed his project.
Last time he spoke was the unforgettable "ehm ...no" to answer the AdComm commettee question...did you make some hap/hal studies ??
I should have sold that very moment, understanding a CEO can never ever face a crucial situation the like he did.
Short Interest - historical data:
year 2013: 136K shares shorts until the day where IPCI jumped @ 4$ ; there the shorts went up tp 1Mln Shares
year 2014: by march short interest increased to 2Mln - then slowly back to 1mln shares by the end of year
year 2015: around 1mln shares shorts for all the year
year 2016: 1mln shares short until august, then an increase to 1.6Mln by the end of the year
year 2017: a constant increase to reach 2.9Mln shares shorts in september; then back to 1.2Mln by the end of september; up to 1.7mln by year end
year 2018: up to 2.1Mln shares shorts and then around those levels today
to me shorts have been too correctly timed; never happened a squeeze and Always increased when the price popped. To me it looks clear that the core short position has been feeding from insider info...an insider who perfectly knows when to go short based on following company developments
wim, I think we will have to wait until may 17th; if NASDAQ doesn't grant the listing anymore the 50Mln market value for a take over will be a cap.
if NASDAQ Staff buys IPCI's plan (let's hope they don't apply a track-record-discount factor) and we stay listed 50Mln would probably become the floor.
Just a free guessing on my part
First thing to know is if Armistice and Anson funds are allowed to invest in OTC companies.
Armistice is already down around 50% on its average price, therefore I believe Boyd is about to make some decisions: either cut the loss or double down.
If IPCI gets delisted from NASDAQ it will likely be listed in the OTC pink sheet (if they ask so). Armistice will have more time to implement its strategy; if it cannot be invested in OTC companies they will sell their shares to another hedge fund taking the loss.
what we can be sure about is that they can now have no doubts the management (CFO included) are absolutely inadequate to turnaround the company.
Anyway I believe one way or the other IPCI will be taken over @ no more than 1$; and that is just because Odidi will let the price crater to 0.1-0.15 thanks to his lazyness and inability to step up for his (no more) company.
Only exception - which at this point I consider a miracle - is IPCI does partner and receives an upfront payment which allow them to show NASDAQ Staff the concrete development to stay listed and show investors community they are still alive.
Not to be forgot: other pending ANDAs seem to be no more about to be approved: is the wording of their Q earnings alluding to the fact that they completely stop the approval procedure (they very likely have a pending CRL for each of the applications) ?
I hate this management: they have a 300-500mln potential company value and they are seriously risking do end up with a 40mln acquisition. Idiots
You are talking an error which would cause a CFO to get fired right away.
Same CFO who is reassuring everybody he will be able to present a case to solve the mess he caused.
Same CFO who didn't not put a single dime in ipci shares.
Ok, I am totally pissed off...because ipci's management seems to be consistent in failing.
Guys, numbers from Bloomberg are likely gross revenues. Then rebates, discounts and so on have destroyed profitability.
The real problem to me is that these liars did already know the situation when they made the offerings and they stated to be Nasdaq compliant.
But then they wrote to be non compliant based on final revenue numbers.
They weren't able to calibrate the right proportion of the new offerings.
So honestly there is still somebody who believe that these geniuses could decide to sell generics rights to fund other studies?
Too smart for this group of boy scouts.
And I see that almost nobody realize the risk of asking Nasdaq for an exception without having something bullet proof in your hands.
If we survive it will be by luck and not thanks to strategic planning or contingency management.
Redicolous
blue, honestly there are no sign that can explain the IPCI revenue débâcle...honestly I don't really what the hell happened
In Terms of TRX Count there was no fall down for FOCALIN (march was a total of 193K in March vs 170K in december ot 186K in October for istance)
In Terms of TRX Dollars, same devlopments, 50.5Mln in Marh vs 44.8Mln in december ot 48.3Mln in October)
Same story in terms of TRX Manufacturer's Benchmark Sales Dollars
41.9Mln in March, 37Mln in december and 40.2 Mln in October
when it comes to PAR
03/31/2018 02/28/2018 01/31/2018 12/31/2017
TRX Count
18.78k 17.38k 19.63k 21.26k
TRX Dollars
5.12M 4.73M 5.29M 5.77M
TRX MBS Dollars
4.02M 3.70M 4.11M 4.49M
Purdue Oxycontin sales - just out of curiosity
TRX Dollars
2012 2.77B
2013 2.62B
2014 2.56B
2015 2.42B
2016 2.13B
2017 1.81B
2018 so far 429Mln
2018 Monthly and weekly data are very stable.
Purdue seems to be keeping a 40% of total market share (totals 2018: 958Mln 2017: 4.35B 2016: 5.18B 2015: 5.21B 2014: 5.40B
Mallinckrodt seems to be around 7%
looking at this numbers, thinking about rexista/OXY NDA, AdComm and Purdue lawsuit, thinking about the risk of delisting...
it just make me sick about management
Not a single change as of today
End of June risks to be after Nasdaq pronounces on the listing.
The should finish the studies and announce a partnership....
The best way would have to have Podras tested on Oxy, Purdue lawsuit settled and Podras partnered with Purdue. It could grant us listing a tremendous reprecing
Their case can only be a rock solid improvement, which they are incapable to realize before the hearing.
So they are likely bringing promises to achieve something big near term.
They sound has not having a clear strategy...or they are just giving some false relief before telling everyone goodbye.
Very hard to have faith in these laiers
LoL
I wanna cry. It is Beyond my wildest nightmare how they drove it from 3$ in july 2017 to 0.4$ today...it has been like those single product biotech....
I have Always thoght that the diversified pipeline should have worked as support to possible setbacks;
I didn't account in for the management playing (deliberately or not ) against us shareholders
we risk to reach incredible low levels by the end of the week...
...ehi...but they can't control the price...LoL...what a joke of a mangement.
These guys should banned from managing anything !
doog, the only thing that really matters right now is to understand how/if/when the institutional investors owning almosto 30% of IPCI are going to react to this sinking-ship-management.
next days will be crucial to me, the NASDAQ listing mess won't be without consequences
the problem of trying to solve the minimum equity via an offering is that you raise x% of the company capital but without any positive catalyst the market is very likely going to adjust the market cap to account for dilution by a facto of x%.
So when a raise is made just to survive for the next 3 months and grant salaries and bonuses the net result could even be negative.
I wrote Patient, Odidis and the Board in the past explaining exactly what was likely to happen (and it did !).
I also added that the usual outcome for this kind of spiral is a change in the management and often in company ownership
I remember months back when I was screaming on this board that making offerings while being not in compliance would have been suicidal.
Their track record is a mess... failure after failure.
No more ANDAS approvals coming as well...did they decide to put them on hold? Yes because it is clear they have been working on multiple CRLs.
Being delisted ... even just risking it having this pipeline should be enough to have the doctor banned from managing even an ice-cream shop
Samsa, the big question is....was it an error or was it deliberate ?
Because I don't really buy it that 22 of march they believed to be compliant and 3 weeks later they were sure of not being.
They should have already known how the accounts were at the time.
So reckless or delinquent ?
Wimike, you are right. It does seem an offering ...but we cannot be sure untill we will. LoL
If that's the case let's see who buys it. If Armistice does...well good sign.
In any case Odidi is an idiot and he is likely about to pay the price...ipci could be finally controlled by someone else.
TIME is money Mr Odidi...you have been sleeping over ipci pipeline for a while now.
Patient and Odidi will reassure everybody...in the meantime the share price gets crushed.
How can you still trust them ?
Plain reality...they did nothing since AdComm failure...just promises and reassurance that they will accomplish something in the future.
Patient not investing is a clear sign he doesn't believe the prospects.
Only solution I see it is another offering....Armistice and Anson know it..
...so let's see...maybe mr Stubborn is about to lose is toy ???
Mr Boyd, could you please let us know which your intentions are ??
Odidi, pls...get lost in the labs...4ever !!
"I go back and forth between the CEO being just a bad CEO or an "evil genius". With all the company APPEARED to have going for it over the past few years, it seems like screwing things up this badly was nearly impossible, unless it was done intentionally."
same feelings as mine.
we just have to hope funds are buying these dips...the more we go down and the more a take over becomes likely... and its possible price become lower
Impact, hope you can explain Odidi that he has been driving us against a wall.
I tell you this; if we get delisted from NASDAQ, likely Armistice, Anson and Sabby will dump...we go to 0.10$...then we stay in the Toronto Stock Exchange (and maybe OTC);
but we are not going back to 3$ (or the equivalent in CAD).
Nobody will never ever put faith in Odidi, capable to consistently destroy value although having an appealing pipeline.
Reputation and track record are gonna kill us
just management screwing us up...big time...the risk of delisting is looking more and more concrete.
the company must ask for an exception, since they didn't comply whithin the indicated period; on what grounds are they going to ask for being considered compliant to NASDAQ listing rules ??
a big thanks to Patient as well, because he wasn't able to calibrate the size of the last offerings, which were not enought to reach the minimu company equity.
How ?
Odidi is shorting himself...everybody should partecipate at the next meeting and show him how grateful we are.
Having a company with 4 approved generics, 4 pending ANDAs, 2 NDAs and a technology Platform, now concretely risking to be delisted it just pisses me off.
Odidi just kept fooling us around for the Whole time and he even dare to receive someone face to face....
scam...man
Samsa, it really seems the bottom is never reached with these guys.
We have to be realistic now. Odidi could have decided to go for a delisting, so that he doesn't have the stress to manage markets and investors expectations.
It is really difficult to me to find a way for IPCI to get a status for listing if the do not deliver something BIG before the hearings.
Now let's see what happens with Boyd...if they are caught by surprise and dump, or if they decide to increase and accelerate before delisting.
Yes FreedFish, IPCI potential pipeline should be unlocked by someone who has strategical thinking and commercial awareness.
I would love to see a new Board member coming from Armistice...but it seems just not the moment.
The delisting risk is somewhat MORE than pure formality, because at the hearing they have to bring something concrete...not just promises. They are NOT COMPLIANT by their own amission. This is one of the most incompetent team having in its hands an interesting pipeline.
The Paradox is they raised capital and they failed to meet NASDAQ minimum equity requirements....because at the end of march they didn't know revenue were so bad ?
this is fooling investors around.
Surely I agree that the funds see more upside than downside; here the downside is called Dr Odidi, and once you have shown him he has no alternative than to JUST work in the lab, then you can unlock value.
Mr Patient didn't tell ImpactTRader anything sensitive or material..otherwise it wouldn't have respcted the SEC regulation
please everybody...read...this is not pure formality (Patient is a liar if he really told Impact so)
"On March 26, 2018, following disclosure of completion of two financing transactions, the Staff notified the Company of conditional compliance with Listing Rule 5550(b)(1). The conditional compliance was also based on the Company's Form 6-K filed on March 22, 2018, in which the Company indicated its belief that its stockholders' equity was in excess of $2.5 million at that time. However, as described in a Form 6-K filed on April 16, 2018, based on the Company's actual results of operations for the three months ended February 28, 2018, the Company did not believe that it would meet Nasdaq's minimum stockholders' equity requirement if measured as of the date of such Form 6-K."
They currently are NON COMPLIANT. The only hope is that something happens before the hearing with NASDAQ Staff is possibly accepted.
IPCI management is a bunch of idiots ! Look at the dates: they believed to compliant on March 22, they said they weren't on April 16. Likely there is matter for a lawsuit! Either thiefs or idiots!!
They tried to raise capital in order to meet the minimum requirements but they were not able to calibrate based on the disappearing revenue.
And remember that Patient didn't put a single dime in the company's shares...the guy is not stupid, he knows he just has to earn his salary until it will last.
Let's hope for a quick takeover, because I am feeling like Odidi is trying to run away (delisting) and stay on the dark side for a while.
Let's hope the funds keep on holding their shares.
Odidi...you are on of the most incompetent manager I ever read of.
And if (as I am starting to believe over the last couple of weeks) you Odidi, are the one holding the big short core position...then you are a scam !!
Samsa, if they will come out with a new offering end of June it would very likely be subscribed by Armistice and Anson.
They are our only wall towards an eltp scenario, 0.10$ share price and700mln shares out.
If they didn't bought last offering I would likely have sold out my position at a terrible loss, because to me Odidi is going that direction, not by choice but by incapacity and lack of skills
Agreed. The risk is becoming like eltp, offerings after offerings and reverse split...the death of the longtime investment
I believe there is a shortcut to this pharmacy debate:
Odidi would take 1year just to buy the pharmacy next his door... therefore it would be everything over before it even commence
Odidi is just not capable of efficient and timely delivery of any single project.
Sad but true
we need some catalyst....like..I don't know...Odidi selling is Lambo.. LoL
Seriously speaking, it sounded strange to me that they decided to relaese negative Q results at the beginning of the week...like to have the major negative impct on shares price.
The bottom which is likely forming around here has to be feeded with news...and this time ...positive news.
Armistice and Anson are down around 12% since the offering...not a big deal for them, but something that is not maaking our biggest shareholder happy neither.
"Did you all die or are you just shocked by my proposal? "
shocked by Odidi's NON-proposalS ! LoL
Tilator, ipci magic team will be more than happy to evaluate your proposal. LoL
seriously speaking, I believe everybody here is just fat up about trying to offer analysis, ideas, or all sort of contributions that made this board in the past one of best ever (my personal opinion).
we just get systematically disappointed and constantly kept in teh dark...which simply unacceptable !
I consider your efforts grounded and with logic, but right now we are in the 3 months emergency window before ipci will be again without cash !!
so fingers crossed they have somthing concrete with an immediate effect, otherwise a new offering end july becomes likely.
wimike, don't worry, because it will take a while before the hypotetical partnership in China starts to produce some cashflow for IPCI.
In the meantime the have to find a way to raise new money, and if they go for another offering Armistice+Anson will take the opportunity to take control of the company.
Therefore to me the China development is not goint to help within the next 3 months, which is when they end CASH....once again...
Everybody vote the Board out !
They are not shameless unskilled academics which just thought to be the smartest.
Surely smarter than me, who I put faith, time, effort and passion into a failing team of opportunists
Good points...but we are just going down...
At some point this is not going to end well for us long time shareholders...maybe for those who buy today.
These are a bunch of total incompetents